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Employees with monetary savings have more bargaining power than those without. In this video, FRANCESC DILMÉ investigates this scenario, specifically exploring the impact of the employer being aware of the employee’s savings and vice versa. Establishing a theoretical model of relational contact between worker and employer, Dilmé finds that the dynamics of this relationship are highly dependent on the visibility of employee savings–the more the employer knows about these matters, the more power it has. The research shows that a certain degree of self interest cannot be ignored when an employer sponsors pension schemes or saving schemes for its employees.


Francesc Dilmé is an Associate Professor in the Department of Economics at the University of Bonn. Having completing his PhD at the University of Pennsylvania in 2013, Dilmé has also held a visiting scholarship at the University of California, Berkeley. His research centres on applied microeconomic theory and dynamic models with asymmetric information. Recipient of the William Polk Carey Prize for an Outstanding Economics Dissertation in 2014, Dilmé was named a distinguished CESifo Affiliate in 2016. Furthermore, Dilmé is recipient of an ERC grant which runs from 2021 to 2026.


University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn)

Bonn is one of the large universities in Germany, with around 36,000 students, 550 professors, 6,500 other staff staff. It offers a wide disciplinary spectrum comprising some 200 different degree programmes, from Agricultural Science to Tibetan Studies. This diversity is what characterizes Bonn as a full-range university with a strong international orientation. In many international university rankings Bonn is placed among the 100 best universities in the world.Its academic and research profile features internationally renowned specializations in the fields of Mathematics, Physics/Astronomy, Economics, Chemistry, Pharma Research, Biosciences, Genetic Medicine, Neurosciences and Philosophy/Ethics. Other disciplines, such as Geography and Law, are of outstanding importance within the German research scene. The Rheinische Friedrich-Wilhelms-Universität Bonn is rooted in a long tradition going back almost 200 years. It was founded in 1818 by Friedrich-Wilhelm III, the Prussian king whose name it bears. Imbued with the spirit of Wilhelm von Humboldt, the university quickly joined the circle of Germany's most distinguished universities and became a major pole of attraction for leading scholars as well as students.The list of famous professors ranges from the astronomer Friedrich Wilhelm Argelander (1799-1875), through the chemist August Kekulé von Stradonitz (1829–1896) and political economist Josef Schumpeter (1883–1950) to the philologist Ernst Robert Curtius (1886–1956) and the theologists Karl Barth (1886–1968) and Joseph Ratzinger (born 1927), now Pope Benedict XVI. Bonn's best-known students include Heinrich Heine, Karl Marx, Friedrich Nietzsche, and Konrad Adenauer. The university is proud of a long list of award-winning scientists and scholars, with about twenty Leibniz Prize winners and around thirty ERC grantees. In the last three decades two professors have received the Nobel Prize: Wolfgang Paul (for Physics, 1989) and Reinhard Selten (for Economics, 1994). (Source: University of Bonn)
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Original publication

Relational Contracts: Public versus Private Savings

Dilmé Francesc and Garrett Daniel F
Published in 2023